This publication provides an up-to-date overview of the South Australian economy and contrasts the State's performance with that of the Australian economy. It provides details of movements in a range of economic and social indicators.

OVERVIEW
The data in this Overview are presented in trend terms, unless otherwise stated.

Included in this overview are Statistical Summary tables showing comparisons between South Australia and Australia for a variety of economic and social indicators. Also included is a State Summary, showing the performance of all States and Territories for selected indicators.

Further detail on all the indicators shown below can be obtained by accessing the latest Data Cube attached to this publication. This Data Cube is available within the Related Links section on this page.

IMPORTANT CHANGES

The June Quarter 2004 figure for Sawn Timber production will be the last time this data is compiled. This data is published in Table 15 (refer to the Data Cube available within the Related Links section). At this stage, it is unlikely that alternative data will be available from the ABS in the future.

June quarter 2004 is the last quarter that the ABS will be compiling the Price Index of Materials Used in Building Other than House Building. This data appears in the Statistical Summary (Part 2) of this publication. Users of this index, who are interested in discussing alternative indicators of price changes for these commodities, can contact Steve Whennan on Canberra (02) 6252 6251, or email <steve.whennan@abs.gov.au>.

INTERNATIONAL TRADE

The value of South Australian merchandise exports (in original terms) for the month of June 2004 was $667.1m. This was a decrease of 3.2% from the previous month and 14.7% more than the value of exports in June 2003 ($581.9m).

The value of South Australian merchandise imports (in original terms) for June 2004 was $454.7m. This was a decrease of 3.8% from the $472.5m recorded in May 2004, and 14.1% more than the June 2003 figure of $398.6m.

Retail turnover continued its steady increase, with a positive movement of 0.6% from May 2004 ($1,173.2m) to $1,180.4m in June 2004. In the twelve month period from June 2003, total retail turnover increased by 6.4% from $1,109.8m.

Retail Turnover

- See Retail Trade, Australia (cat. no. 8501)

July 2004 saw a total of 5,119 new motor vehicle sales, a drop of 0.6% on the previous month. The July 2004 figure is 2.3% lower than the new vehicles sales recorded in July 2003 (5,238).

New Motor Vehicle Sales

- See Sales of New Motor Vehicles, Australia(cat. no. 9314.0.55.001)

HOUSING

In June 2004 the estimated total number of dwelling units approved in South Australia was 906, slightly higher than May 2004 (901) and also higher than the estimated total approved in June 2003 (867).

Dwelling Units Approved

- See Building Approvals, Australia (cat. no. 8731.0)

CONSUMER PRICE INDEX

The all groups consumer price index in Adelaide for the June quarter 2004 was 148.6, an increase of 3.0% on the level recorded for the same period in 2003 and up 0.6% on the March quarter 2004.

Consumer Price Index

- SeeConsumer Price Index, Australiacat. no. 6401.0)

LABOUR FORCE AND DEMOGRAPHY

The estimate of employed persons in South Australia was 720,400 in July 2004, slightly higher than the peak in July 2003 (719,600). The total number of persons employed full-time in South Australia was 496,500 in July 2004, lower than the July 2003 estimate of 504,100.

Employed Persons

The estimate of the unemployment rate for South Australia was 6.2% in July 2004, the same as in July 2003. The estimate of the participation rate in South Australia was 61.5% in July 2004, continuing the decline from the most recent peak of 62.0% between May and July 2003.

Unemployment Rate - Trend

- See Labour Force, Australiacat. no. 6202.0)

FINANCIAL MARKETS

The value of secured housing finance commitments (excluding alterations and additions, and including refinancing) was $598.8m in May 2004. This was a decrease of 1.2% from the previous month and 6.4% less than the value of commitments in June 2003 ($639.5m).

Price index of materials used in building other than houses (index no.)

Jun qtr 04

129.7

2.9

3.7

130.7

3.0

4.0

..

14

Price index of established houses (index no.)

Mar qtr 04

227.1

3.0

22.8

251.3

2.5

17.9

..

15

Price index of project homes (index no.)

Mar qtr 04

168.3

2.1

7.4

155.8

1.4

7.7

..

15

Labour force and demography

Population (resident at end qtr) ('000)

Dec qtr 03

1,531.4

0.2

0.6

20,008.7

0.3

1.3

7.7

16

Natural increase of the population ('000)

Dec qtr 03

1,227.0

2.7

-17.3

31,374.0

11.9

2.6

3.9

16

Labour Force

Original ('000)

Jul 04

764.8

-0.5

0.1

10,205.1

-0.1

1.9

7.5

17

Trend ('000)

Jul 04

768.4

0.1

0.1

10,243.9

0.1

1.8

7.5

17

Employed persons

Original ('000)

Jul 04

720.1

-0.0

-0.0

9,670.4

0.2

2.4

7.4

17

Trend ('000)

Jul 04

720.4

0.1

0.1

9,672.2

0.1

2.4

7.4

17

Participation rate

Original (b) (%)

Jul 04

61.2

-0.4

-0.5

63.3

-0.2

0.2

..

17

Trend (b) (%)

Jul 04

61.5

0.0

-0.5

63.6

0.0

0.2

..

17

Unemployment rate

Original (b) (%)

Jul 04

5.8

-0.5

0.0

5.2

-0.3

-0.5

..

17

Trend (b) (%)

Jul 04

6.2

0.0

0.0

5.6

0.0

-0.5

..

17

Job vacancies ('000)

May 04

6.0

9.6

4.0

122.7

16.1

23.4

4.9

18

Industrial disputes ('000 working days lost)

Mar qtr 04

4.9

11.4

133.3

76.8

-49.3

15.8

6.4

19

Income

Average weekly earnings (full-time; ordinary time)

Original ($)

May qtr 04

876.00

0.9

1.9

949.50

0.2

3.1

..

20

Trend ($)

May qtr 04

873.30

0.5

1.6

952.50

0.7

3.8

..

20

Wage cost index (total hourly rate excluding bonuses)

(c) (index no.)

Jun qtr 04

124.2

0.3

4.5

124.3

0.6

4.2

..

21

Financial markets

Secured housing finance (d)

Original ($m)

Jun 04

606.3

-2.8

-6.8

10,250.5

-0.7

0.1

5.9

22

Trend ($m)

Jun 04

598.8

-1.2

-6.4

9,749.7

0.3

-4.8

6.1

22

Finance commitments

Personal ($m)

Jun 04

427.0

2.4

-1.7

7,302.0

8.3

12.5

5.8

23

Commercial ($m)

Jun 04

1,287.5

8.0

16.8

26,683.0

16.6

0.2

4.8

23

Lease ($m)

Jun 04

21.5

69.3

15.6

603.0

30.0

-6.5

3.6

23

Interest rates (b)

Banks - new housing loans (%)

Jul 04

..

..

..

7.05

0.0

0.50

..

24

Banks - business loans

Small, medium businesses (e) (%)

Jul 04

..

..

..

8.85

0.0

0.50

..

24

Large business (%)

Jul 04

..

..

..

8.85

0.0

0.50

..

24

(a) Base year of each index 1989-90 = 100.(b) Change is shown in terms of percentage points.(c) Base year of index Sep 1997 = 100.(d) Excludes alterations and additions. Includes refinancing.(e) Rate for business loans over $50,000.

STATE SUMMARY

Source

Indicator

Period

NSW

Vic.

Qld

SA

WA

Tas.

NT

ACT

index

SELECTED INDICATORS

CPI- All groups(a) (index no.)

Jun qtr

145.5

143.9

146.3

148.6

141.0

144.3

139.6

144.8

13

Participation rate trend (%)

Jul 04

62.5

63.4

65.0

61.5

65.5

59.5

70.9

71.2

17

Unemployment rate trend (%)

Jul 04

5.6

5.7

5.7

6.2

5.0

6.9

6.6

3.4

17

Average weekly earnings (full-time adults; ordinary time) trend ($)

May qtr

995.80

955.30

890.40

873.30

956.50

845.50

949.20

1,067.30

20

SELECTED INDICATORS PER HEAD OF POPULATION(b)

State final demand

Chain volume measures trend (c)

($'000)

Mar qtr

10.1

10.1

9.6

9.2

10.3

8.6

13.9

16.9

1

Retail turnover

Current prices original ($)

June 04

785.6

733.1

818.7

735.0

763.4

687.3

870.5

962.7

3

Current prices trend ($)

June 04

826.3

769.7

843.0

770.8

799.4

711.6

835.4

979.3

3

New motor vehicle sales

trend (no. per '000 population)

July 04

3.8

5.1

5.2

11.2

2.6

15.5

7.7

2.3

4

Private new capital expenditure

Current prices trend ($)

Jun qtr

549.3

572.2

588.0

621.0

1,102.6

381.3

2,345.2

412.3

5

Dwelling unit approvals

Original (no. per '000 population)

Jun 04

0.550

0.735

0.993

0.706

1.095

0.488

0.700

0.598

7

Trend (no. per '000 population)

Jun 04

0.581

0.745

0.869

0.588

1.030

0.596

0.589

0.846

7

Secured housing finance (d) ($)

Jun 04

587.2

449.9

541.2

395.9

531.7

290.2

376.4

419.1

22

PERCENTAGE CHANGE FROM PREVIOUS PERIOD

State final demand

Chain volume measures trend (c)

Mar qtr

0.9

1.5

2.0

0.5

1.0

1.7

0.9

0.1

1

Retail turnover

Current prices original

Jun 04

-1.7

-0.6

2.1

-0.2

-0.0

1.5

7.3

0.6

3

Current prices trend

Jun 04

0.9

0.1

0.9

0.6

0.9

0.4

1.5

0.4

3

New motor vehicle sales trend

July 04

-0.8

-1.0

0.3

-0.6

0.6

0.3

-1.9

0.5

4

Private new capital expenditure

Current prices trend (e)

Jun qtr

2.7

-2.9

1.5

0.5

-2.6

4.0

-1.1

-2.9

5

Dwelling unit approvals

Original (%)

Jun 04

-4.6

-8.2

25.6

23.5

-0.5

-23.8

4.5

-73.7

7

Trend (%)

Jun 04

-1.1

-0.1

-0.1

0.6

0.6

2.1

8.5

5.5

7

CPI- All groups (%)

Jun qtr

0.3

0.3

0.6

0.6

1.0

0.9

0.4

0.6

13

Participation rate trend (e)

Jul 04

-0.1

0.0

0.0

0.0

-0.1

0.1

-0.1

-0.2

17

Unemployment rate trend (e)

Jul 04

0.1

0.1

-0.1

0.0

-0.1

0.1

0.5

-0.1

17

Average weekly earnings (full-time adults;ordinary time) trend

May qtr

0.8

0.5

0.8

0.5

0.9

0.8

1.3

0.0

20

Secured housing finance (d)

Jun 04

-5.1

2.5

6.6

-2.8

-1.8

-5.6

9.4

-4.2

22

(a) Base year of index 1989-90=100.

(b) The latest quarterly estimate of Australian resident population has been used to calculate ratios for subsequent periods.

(c) Reference year for chain volume measures is 2001-02.

(d) Excludes alterations and additions. Includes refinancing.

(e) Change is shown in terms of percentage points.

SOURCE INDEX FOR STATISTICAL & STATE SUMMARY TABLES

1

Australian National Accounts: National Income, Expenditure and Product (Cat. no. 5206.0) - and ABS data available on request

2

International Trade in Goods and Services (Cat. no. 5368.0) and International Merchandise Imports (Cat. no. 5349.0). Further detail available on request and in the associated datacubes.